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At the World Economic Forum in Davos, Prime Minister Gordon Brown called for the World Bank to assume an environmental role capable of taking on the global challenges posed by climate change. “I can’t see why we should not move immediately to the World Bank becoming a World Bank for the environment as well as development,” he said. “We need a global carbon market and we need a climate change agreement… and we need an institution that is global and can provide funds for developing countries that want to introduce alternative sources of energy.”

Earlier this week at the Forum, Vattenfall AB, Alcan Inc., Duke Energy Corporation and the International Emissions Trading Association announced they are cooperating to work with other leading industries and financial institutions to accelerate carbon trading as a key component to addressing climate change.